Today, EUR/USD declined from 1.0870 to 1.0805, reaching a more than 2-month low. On the hourly chart, the pair fell below the MA (200) H1 moving average line (1.0900) and on the four-hour chart below the MA (200) H4 (1.1020). Technically speaking, the 1.0775 support level may keep prices from further declines. If broken, EUR/USD could fall towards 1.0730. The upper boundary of 1.0935 represents a strong resistance level.
⦁ Resistance levels are: 1.0870, 1.0935, 1.0960
⦁ Support levels are: 1.0775, 1.0730, 1.0670
The main scenario for the pair suggests a break of the support at 1.0775 (June 14 low) and there could be a decline to 1.0730 (June 12 low)
The alternative scenario implies a session high of 1.0870 and a possible rise to 1.0935 (Aug 16 and 22 highs).
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